Applied Finance Capital Management LLC Reduces Stock Holdings in Target Corporation $TGT

Applied Finance Capital Management LLC cut its position in shares of Target Corporation (NYSE:TGT) by 6.6% during the third quarter, Holdings Channel.com reports. The firm owned 159,887 shares of the retailer’s stock after selling 11,326 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Target were worth $14,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after buying an additional 3,059 shares during the period. Woodline Partners LP increased its stake in Target by 39.9% during the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after acquiring an additional 11,047 shares during the last quarter. Callan Family Office LLC increased its stake in Target by 76.9% during the second quarter. Callan Family Office LLC now owns 12,092 shares of the retailer’s stock worth $1,193,000 after acquiring an additional 5,258 shares during the last quarter. Apollon Wealth Management LLC raised its position in Target by 3.4% in the second quarter. Apollon Wealth Management LLC now owns 10,859 shares of the retailer’s stock valued at $1,071,000 after purchasing an additional 362 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Target by 21.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,657 shares of the retailer’s stock valued at $4,701,000 after purchasing an additional 8,557 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial raised their price objective on Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. Citigroup lowered their target price on shares of Target from $100.00 to $89.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Piper Sandler reiterated a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of Target in a research report on Thursday, November 20th. BTIG Research began coverage on shares of Target in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Finally, Sanford C. Bernstein lowered their price objective on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. Ten analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $103.21.

Target Stock Up 0.1%

Target stock opened at $115.61 on Tuesday. The firm has a market capitalization of $52.35 billion, a P/E ratio of 14.03, a P/E/G ratio of 11.83 and a beta of 1.14. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. Target Corporation has a twelve month low of $83.44 and a twelve month high of $132.47. The stock’s fifty day simple moving average is $102.18 and its 200-day simple moving average is $96.63.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The firm had revenue of $25.27 billion during the quarter, compared to analyst estimates of $25.44 billion. During the same period last year, the business posted $1.85 earnings per share. Target’s revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Wednesday, February 11th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.9%. Target’s payout ratio is currently 55.34%.

About Target

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.